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Spain’s car sales jump 23% in 24th consecutive month of growthBack

SpainCarSalesSpanish new-car sales rose 23.3 percent to 55,918 in August marking 24 consecutive months of growth in the market.

The increase followed a rise of 23.5 percent in July.

Last month was the best August for car sales volume in Spain since 2009 and the growth figure was the highest in August for 16 years, car dealers’ federation Faconauto said today in a statement released jointly with vehicle makers’ association ANFAC.

A Spanish government-backed subsidy scheme to boost new vehicle acquisitions has helped spur purchases over the last two years and was renewed for the seventh time in May with an injection of 225 million euros ($247 million).

Under the scheme, owners who scrap their cars and buy a new one get 2,000 euros, half of which is provided by the government and half from the carmaker.

In the first eight months, Spain’s new-car sales increased 22 percent to 714,062.

Source: Automotive News Europe

Posted by Sue Robinson on 04/09/2015